Science and Technology

Definition Science and technology companies include firms within a wide range of industry sectors including biotechnology, pharmaceuticals, nanotechnology, bioinformatics, biomedical, medical device, diagnostics, biopharmaceutical processing, and data management and storage among others.

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QUEST DIAGNOSTICS REGIONAL FACILITY

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Acquisition (single tenant net leased)
Case Study
QUEST DIAGNOSTICS REGIONAL FACILITY
 

 

 

1311 Calle Batido
San Clemente, California


Owner
Single purpose LLC owned by BRI and an institutional investor

Tenant
Quest Diagnostics, a NYSE company

Size
86,207 square feet

Project Type
2-story office, R&D and laboratory facility

Program Elements
  • 2-story 86k rentable sq. ft.
  • 7.488 acres (including excess land)
  • 3.25 surface parking spaces / 1,000 square feet.
  • 73k lab/office/
    manufacturing
  • 13k warehouse
  • 1.372 acres for future expansion


Services
  • Site Identification and Acquisition
  • Senior Debt Financing
  • Property Management Oversight
  • Leasing Oversight (future)
  • Development Oversight (future)


Project Schedule
Acquisition: 5/2007




 

Quest Diagnostics is mid-way into a 10-year lease of this 86,207 square foot regional facility in south Orange County, California. A principal of BRI identified this single-tenanted, two-story project, situated on 7.488 acres as a possible value-added investment opportunity for BRI and one of its institutional client partners. The project includes an adjacent 1.372 acre site which can accommodate either future development or allow for additional parking so the existing facility can be expanded.

Closing of the Quest transaction occurred in May 2007. The project was financed through equity from BRI and an institutional investment partner and a loan from a nationally recognized life insurance company.

 

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